UK: Another positive day – except for shares in airlines
London’s equity markets pushed ahead yesterday for the third successive session, with gains in most sectors of the market. The FTSE 100 index added half a per cent in value, gaining 17.7 points to end the day at 3771.1, while the FTSE 250 index put on 16.4 points for a close of 4040.7. Both indices had been at much higher levels earlier in the day but profit taking pegged the gains back towards the end of the trading session. Dealers were busy and traded 2.7 billion shares by the 6pm cut-off point.
By way of contrast, travel shares had a hard time yesterday. British Airways lost 4.25p to end the day at 110.25p after reporting that its passenger traffic fell by more than 11 per cent in March – and that its load factor during the month fell from 75.8 per cent to 69.2 per cent. The bus and rail operator Stagecoach was another of the day’s big losers; it lost nearly nine per cent of its value yesterday, down 3.75p to 38.25p, on fears that the Sars virus in the Far East will affect its operations in Hong Kong.
Elsewhere, First Choice lost 1.5p and closed at 82p, while MyTravel put on 0.375p to end the session at 11p. Ryanair gained a penny to finish the day at 429p, while its no-frills rival Easyjet put on 0.75p for a closing price of 227p. The online retailer Lastminute.com added 1.75p to end the day at 89p.
